Trayport Offers Real-Time STP for OTC Cleared Products Via LCH.Clearnet

Trayport Limited, a GFI Company, is now supporting OTC cleared markets by offering new real-time straight through processing from its GlobalVision Broker Trading System to LCH.Clearnet Ltd.’s clearing systems for processing transactions.

This eliminates the need for manual input of trades from brokers and traders, according to the release.

According to Trayport, OTC cleared trading is playing an increasingly important role in the European energy markets and LCH.Clearnet is at the forefront of this market model. However, the current process requires brokers and traders to manually enter trades into LCH.Clearnet’s clearing systems. The new connection from GlobalVision to Clearnet’s systems automates the OTC Cleared trade workflow.

“Improving the OTC cleared model is crucial for the evolution of the OTC European energy markets and our integration with LCH.Clearnet will ensure the process becomes far more automatic,” stated Dan Smith, head of broker systems business at Trayport.

“The London Energy Brokers Association, which includes members such as Cantor Co2e, GFI Group, ICAP, Spectron, TFS and Tullett Prebon has expressed their support for this new initiative, which has already gone live with carbon emissions trading. But the initiative will also include other asset classes in spot and futures markets such as freight derivatives,” stated Isabella Krek Smith, director of energy ad freight LCH.Clearnet in the release.

Based in London and Jersey City, N.J., Trayport is a subsidiary of New York-based GFI Group Company. Trayport is a provider of multi-asset electronic trading solutions. With more than 12,700 GlobalVision trading screens in use, almost all OTC trades in UK power and gas, European power and gas, coal, freight and carbon occur on Trayport’s Global Vision platform, according to the release.

Ivy is Editor-at-Large for Advanced Trading and Wall Street & Technology. Ivy is responsible for writing in-depth feature articles, daily blogs and news articles with a focus on automated trading in the capital markets. As an industry expert, Ivy has reported on a myriad ... View Full Bio